The Fall of UBS PDF ePub eBook

Books Info:

The Fall of UBS free pdf THE FALL OF UBS, The Forces That Brought Down Switzerland's Biggest Bank by Dirk Schutz is essential reading for business and finance professionals: a complicated story of power, ambition, vanity and a lack of risk management controls at one of Europe's largest banks. "UBS CEO's Fall from Grace Tells a Tale of Euroland" Wall Street Journal "Why did Cabiallavetta, the CEO of the Union Bank of Switzerland, agree to such a deal?" asked The Economist on January 31, 1998. The deal was a merger between UBS and Swiss Bank Corp., a smaller rival. One reason, The Economist speculated, was that there was, "in UBS's London based derivatives business, a hole of unknown (but possibly huge) proportions." By mid-1997, the bank's trading division, built by Cabiallavetta, was falling apart with estimated losses of 1 billion Swiss francs ($700 / 416 million). The Financial Times estimated the loss at 650 million Swiss francs. Was this the real reason for the UBS/SBC merger? And were there, as The Economist also speculated, parallels to the decline of Barings, the respected British investment bank brought to ruin in early 1995 by one rogue trader. Who was the rogue trader at UBS In UBS case, Nick Leeson's role might have been played by a former Israeli army officer born in 1950 in Haifa, the Israeli seaport, who had been a member of an elite paratrooper division and decorated fighter in the Arab-Israeli Wars of 1967 and 1973. His name was Ramy Goldstein, although few UBS employees in Switzerland knew who he was. Goldstein was the head of GED, the global equity derivatives unit at UBS, and over the years had become the bank's shining star and highest-paid employee. Reliable sources estimated that his bonus for 1996 was approximately 15 million Swiss francs ($10 / 6.25 million). The same year, Cabiallavetta paid taxes on an income of 2.1 million Swiss francs ($1.4 / 0.875 million), and Robert Studer, the chairman of the board, earned 1.4 million Swiss francs. What happened at UBS is a complicated story involving power, ambition and vanity. It shows that risk management controls in the largest of the Swiss banks had not extended far enough from the experience. And the responsibility for the failure falls principally on Cabiallavetta.

About Dirk Schulz

Unfortunately, at the moment we can't give you details about the actual Founder Dirk Schulz. However, this does not necessarily mean that people are unsuccessful to be with her selection. We all question that you just allow us to in this particular issue. In case you have sparetime and desire may hugely enjoy in case you present to us all your data. As soon as acquiring this kind of opinions and knowledge through users about the The Fall of UBS Founder Dirk Schulz, many of us first the woman's examine. After most of us be certain that just about all accurate, merely post that. Many of us fully grasp this assist and many thanks upfront.

Details Book

Author : Dirk Schulz
Publisher : Pyramid Media Group,U.S.
Data Published : 28 February 2000
ISBN : 0944188206
EAN : 9780944188200
Format Book : PDF, Epub, DOCx, TXT
Number of Pages : 280 pages
Age + : 15 years
Language : English
Rating :

Reviews The Fall of UBS



17 Comments Add a comment




Related eBooks Download


  • Swiss Watching free pdfSwiss Watching

    One country. four languages. 26 cantons. and 7.5 million people (but only 80 per cent of them Swiss): there's nowhere else in Europe like it. Switzerland may be almost 400 km from the nearest drop of seawater..


  • Ticking Along Too free pdfTicking Along Too

    How do foreigners get along with the Swiss. What about Swiss humour. Are Swiss always punctual. Was Switzerland always so clean. Have you got a Swiss mother-in-law. Do you want to make your Swiss neighbours smile..


  • The Swiss Banking Law; Study and Criticism of the Swiss Legislation Respect ... free pdfThe Swiss Banking Law; Study and Criticism of the Swiss Legislation Respect ...

    Unlike some other reproductions of classic texts (1) We have not used OCR(Optical Character Recognition). as this leads to bad quality books with introduced typos. (2) In books where there are images such as portraits..


  • Swiss Watching free pdfSwiss Watching

    FINANCIAL TIMES BOOK OF THE YEAR One country. four languages. 26 cantons. and 7.8 million people (but only 78% of them Swiss): there's nowhere else in Europe like it..


  • The Gotthard Bank's Swiss Photography Collection free pdfThe Gotthard Bank's Swiss Photography Collection

    The volume is a rich collection of Swiss photographs from the Banca del Gottardo. Images in the collection include: Joerg Bader. Ruedi Bechtler. Stefania Beretta. Lorenzo Bianda..


  • The Fall of UBS free pdfThe Fall of UBS

    Reading Books Online Free. THE FALL OF UBS, The Forces That Brought Down Switzerland's Biggest Bank by Dirk Schutz is essential reading for business and finance professionals: a complicated story of p